Tracerco Celebrates Opening of its New £9m Measurement Technology Centre

Leading industrial technology specialist Tracerco,
part of Johnson Matthey Plc, has reaffirmed its commitment to the north east
region with the official opening of its new 61,000 square feet Measurement
Technology Centre in Billingham.

The £9million investment, which houses 150 people,
at the Belasis Business Park Enterprise Zone, has provided the world leading
technology company with a custom built Research, Development and Engineering
Test Centre for its team of scientists and engineers. It provides the business
with a platform to expand its measurement technology innovation endeavours for
customers in the world’s oil, gas and petrochemical industries.

The new building incorporates bespoke prototype,
scale up and testing facilities for its instrumentation and subsea
technologies. This includes a state-of-the-art testing module – complete with
dedicated Factory Acceptance Test (FAT) control rooms – for the award winning
Tracerco ProfilerTM instrument and a 30,000 litre underwater testing
pool, designed especially for its newly invented Discovery CT scanner.

Robert MacLeod, Chief
Executive, Johnson Matthey, officially opened the new centre at Tracerco’s
site in Belasis Hall Technology Park, Billingham on Thursday, 9thOctober.

He said "The opening of the new measurement
Technology Centre marks a significant and essential investment in research and
development to support Tracerco’s ongoing quest to meet the petroleum
industry’s most pressing measurement challenges.

"I am confident that the recent launch of
Discovery, the world’s first CT scanner for pipeline inspection, marks the
first of many exciting, new innovations that Tracerco’s customers can expect.

Tracerco received a £1million grant from the ‘Let’s
Grow’ RGF programme following its commitment to expand its science and
engineering team at Billingham. The programme is a collaboration between
Trinity Mirror Group, BE Group and UNW LLP and provides grant support in the
range £50,000 to £1,000,000 for capital investment and R&D projects
creating or safeguarding jobs in the North East of England. Tracerco will
recruit in excess of 50 new staff members as a result of the MTC development.

Due to its location at the Belasis Business Park Enterprise Zone, Tracerco can also take
advantage of up to £55,000 of business rate discount per year for five years.

Leader of Stockton Council, Councillor Bob
Cook, said: "I am delighted to see Tracerco’s expansion. The Tees Valley Enterprise Zones are thriving
and this is yet another example of how, with support from the Council and the
Local Enterprise Partnership businesses can develop and grow within our
Borough.”

Tracerco Managing Director, Andy Hurst added: "We are continually striving for excellence in
scientific innovation. Our new Measurement Technology Centre is a huge step
forward for the business. We have facilities worthy of the very many
exceptionally talented scientists and engineers that we employ. This is our
platform to realise our goal to be the first to solve our customers’ most
challenging measurement, inspection and diagnostics problems.

"Tracerco prides itself on its commitment to
research and development and the new centre will enable the company to continue
on its path to designing and creating innovative new technologies for the oil
and gas industry.”

Stephen Catchpole, Managing Director of Tees Valley
Unlimited, the Local Enterprise Partnership for Tees Valley, said: "The
investment by Tracerco is proof that Tees Valley Enterprise Zone, with its five
year business rate relief, and the Regional Growth Fund are effective catalysts
for economic development in the area.

"Fostering an environment, in
collaboration with our stakeholders and partners, including Stockton Council,
in which companies of Tracerco’s stature and calibre feel confident to grow and
develop, is important for the future prosperity of Tees Valley.”